Asset base, subscribers under NPS rising: PFRDA

Kolkata: The Pension Fund Regulatory Development Authority (PFRDA) on Thursday said that the asset base and the number of subscribers under the National Pension System (NPS) have been rising.

PFRDA Chairman Supratim Bandyopadhyay said that even during the pandemic, there has been a steady growth of subscribers and the contributions have been stable.

"The asset base under NPS, a defined pension scheme which started in 2004, has increased at a compounded growth rate of 35 per cent. Over last March, it has risen by 30 per cent taking the subscriber base to 38.7 million," he said at a webinar organised by ICC here.

According to him, the pension asset to GDP ratio was very low at around 10 per cent, as compared to more than 100 per cent in countries

like Switzerland, Australia and the UK.